Fully Occupied Office
For Sale
$2,690,910
4809 E 89th St, Tulsa, OK 74137
9340 SF office building near Creek Expressway, Tulsa, OK.
Property Size9,340 SF
Price / SF$288.11
Days on Market261
Property Features for 4809 E 89th St
General Information
Standard status
Active
Size
9,340 SF
Property subtype
Office
Building Details
Year Built
2019
Listing Agency:
NAI Rupe Helmer
(918) 924-6199
Listed By:
Susan Davis · License #OK #024512
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 9 at 5:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Rupe Helmer
Investment Insights
Based on property information with market context.
This 9340-square-foot office building is fully occupied and located near the Creek Expressway at 89th and Yale in Tulsa, OK. The property features leases with options and rent increases.
Key Highlights
- 9340 square feet of space
- Fully occupied, offering immediate income
- Great location at 89th and Yale near Creek Expressway
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$121,288
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,425,760
$2.4M
Cap Rate 7%
$1,732,686
$1.7M
Cap Rate 9%
$1,347,644
$1.3M
Market Conditions
NOI Build-Up for 9,340 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$187.2K $20.04/SF
− Vacancy
−$25.5K −$2.73/SF
EGI
$161.7K $17.31/SF
− OpEx
−$40.4K −$4.33/SF
NOI
$121.3K $12.99/SF
Area
ZIP 74137
Vacancy
13.60%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,425,760
Cap Rate 7%
$1,732,686
Cap Rate 9%
$1,347,644
Alternative Uses
Best Use
Office B
$1.73M
$1.52M – $2.02M
NOI $121,288 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,770 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Explore this area
Business Placement
Demographics for 74137, OK
28,354
Population
12,402
Households
2.3
Avg Household Size
42
Median Age
60%
College-Educated
96%
High-School Grad
10.4 sq mi
ZIP Area
2,726
Density / Sq Mi
$103,963
Median Household Income
$54,307
Median Earnings
$1,133
Median Rent
$384,500
Median Home Value
Market
Vacancy Rate% for Office in Tulsa, OK
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 9340 SF office building near Creek Expressway, Tulsa, OK.
Where is this office building located?
The property is located at 4809 E 89th St Tulsa, OK.
What is the asking price?
The asking price for this property is $2,690,910.
What are key features of this property?
This property features: 9340 square feet of space; Fully occupied, offering immediate income; Great location at 89th and Yale near Creek Expressway
